Roubini Says 400 More Bank Failures Are Likely

[CARLHAYDEN]

Sep 03 2010

Roubini Says 400 More Bank Failures Are Likely

Economist Nouriel Roubini, best known for his early warning on the looming subprime credit crisis, has a new prediction. He told CNBC that about 400 banks in the U.S. are likely to fail.

Read more: http://www.portfolio.com/views/blogs/daily-brief/2010/09/03/roubini-says-400-more-bank-failures-are-likely#ixzz0yvnwjmRB

[opebo]

I just checked - from what I read there's something like 10,000 banks in the US.  Interesting!  But even 4% is pretty bad, I'd agree.